Natural Gases Futures (NG!), H4 Potential Bullish Continuation!

35055 natural gases futures ng h4 potential bullish continuation

Type: Bullish ContinuationKey Levels:Resistance: 4.940Pivot: : 4.497Support: 3.361Preferred Case:We see the potential for a further bullish continuation from our Pivot at 4.497 in line graphical swing low and ascending trendline towards our 1st resistance at 4.940 in line with 61.8% Fibonacci projection. Our bearish bias is further supported RSI being at levels where bounces previously occurred.Alternative Scenario:If prices were to reverse, they can potentially dip towards our 1st support at 4.361 in line with 127.2% Fibonacci Projection.Fundamentals: With inflation still being an issue in the west and no confirmation over was circumstances, we might still expect bullish upside on the commodity.

Source: Tickmill

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